Vitamins & Minerals Market Size Worth $31.84 Billion By 2028

Vitamins & Minerals Market Growth & Trends

The global vitamins & minerals market size is expected to reach USD 31.84 billion by 2028, registering a CAGR of 4.6% during the forecast period, according to a new report by Grand View Research, Inc. Increased consumer inclination toward preventive healthcare drives the vitamins & minerals market. Furthermore, rising demand from the aging population to meet their regular dietary allowance creates more demand for vitamins and minerals in the global market. In addition, growing self-medicate for minor ailments will anticipate market growth.

Numerous health benefits associated with vitamins and mineral consumption attract individuals looking for health immunity improvements, pregnant women, patients who recovering from injuries or surgeries, or those who seeking bone improvements. These all have the growing demand for vitamins and minerals in the global market. In addition, the COVID-19 pandemic positively influenced the consumer’s perspective toward a healthier lifestyle. Increased inclination towards a healthier lifestyle coupled with the increase in purchasing power due to economic developments will boost the market growth.

Increasing awareness among consumers about health and wellness, changing lifestyles, and willingness to adopt healthier dietary options reflects the growing demand for vitamins & minerals. Rapidly growing urbanization, growing awareness, and increased self-medicate for primary treatment open ups new market opportunities for the vitamins and minerals market. Heavy investment from manufacturing companies into research and development also propels the market growth. Creating brand awareness among consumers through media houses and e-commerce sites fuels the growth of vitamins and minerals in the global market.

The COVID-19 pandemic positively influenced the vitamins & minerals market globally. A record surge in COVID-19 cases across various countries leads to the growing demand for vitamins and minerals. Sales of vitamins and minerals witness robust growth. To maintain good immunity, the health system to fight against viruses, vitamins, and minerals is seen in huge demand.

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Vitamins & Minerals Market Report Highlights

• North America accounted largest market share in the global market in 2021 and is expected to expand at a CAGR of 4.3% from 2022 to 2028. Highly aware consumers, a rising aging population, and high purchasing power will drive regional growth

• Multivitamins accounted for the largest share in the vitamins & minerals market at over 37% in 2021. Benefits associated with the consumption of multivitamins, such as increased energy level, boost immunity system, anti-cancer benefits, and reduction in heart-related problems or maintaining good muscle strength, will drive the market demand

• Asia Pacific is estimated to be the fastest-growing region at a CAGR of 5.2% from 2022 to 2028. Growing health-conscious individuals, increased awareness about wellness, a growing self-medicate population coupled with the increase in per capita income, and the presence of a large population will drive the market growth

• The general health segment is estimated to be the fastest-growing application at a CAGR of 5.2% from 2022 to 2028. Consumers' approach to maintaining a healthy body by maintaining general health requirements will propel the vitamins and minerals market

Vitamins & Minerals Market Segmentation

Grand View Research has segmented the vitamins & minerals market based on type, application, and region:

Type Outlook (Revenue, USD Million, 2017 - 2028)

• Vitamin A

• Vitamin B

• Vitamin C

• Vitamin D

• Multivitamins

• Calcium

• Iron

• Magnesium

• Zinc

• Others

Application Outlook (Revenue, USD Million, 2017 - 2028)

• Energy And Weight Management

• Bone And Joint Health

• Heart Disease

• Anti-Cancer

• General Health

• Others

Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America

  • U.S.

• Canada

  • Europe

  • Germany

  • U.K.

  • France

  • Russia

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players in the Vitamins & Minerals Market

• Abbott Laboratories

• Amway

• Bayer AG

• CSPC Pharmaceutical Group

• Daiichi Sankyo

• Eisai Co., Ltd.

• GNC Holdings, Inc.

• Hainan Yangshengtang

• Koninklijke DSM N.V.

• Nature's Way Products, LLC

• Novartis International AG

• Otsuka Holdings Co. Ltd.

• Pfizer Inc.

• Pharmavite LLC

• Roche Holding AG

• Salus Haus

• Sanofi S.A.